Helios Tower Nigeria (HTN) says it is selling its HTN Towers to the largest telecom infrastructure provider in Africa, IHS Towers.
According to the company, IHS will acquire the entire issued share capital of HTN from HTN Towers, which is ultimately owned by Helios Investment Partners, Pembani Group, First City Monument Bank and other minority shareholders.
HTN says it was the first independent telecom tower company in Africa devoted to building and operating towers.
Babatunde Soyoye, co-founder and Managing Partner of Helios Investment Partners says the company founded in 2006 by Helios has since grown rapidly and is recognized for providing best-in-class service to customers across Nigeria.
“We are extremely proud of Helios’ pioneering role in introducing the shared infrastructure model to Africa, founding and helping to develop HTN, the continent’s first independent telecom tower operator. With its enhanced operating model and market leading position, we believe the company has built a strong and sustainable platform to continue its development. We wish the management team, IHS and all of HTN’s employees continued success”, according Soyoye.
According to HTN, the sale of its towers to IHS underscores the strength of Helios’ investment strategy, which is to acquire and build market leading platform companies, operating in the core economic sectors of key African countries, with an emphasis on portfolio operations as a creator of value.